THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No. 60/2004/TT-BTC
Hanoi, June 18, 2004
 
CIRCULAR
GUIDING THE ISSUANCE OF STOCKS TO THE PUBLIC
In implementation of the Government's Decree No. 144/ND-CP of November 28, 2003 on securities and securities market (called Decree No. 144 for short), the Finance Ministry hereby guides the issuance of stocks to the public as follows:
I. GENERAL PROVISIONS
1. This Circular prescribes the issuance of stocks to the public in the territory of the Socialist Republic of Vietnam, excluding the issuance of stocks by credit institutions, by State enterprises and foreign-invested enterprises when being transformed to operate in the form of joint-stock companies.
2. Issuance of stocks to the public under this Circular includes first-time issuance and additional issuance.
2.1. First-time issuance of stocks to the public includes:
2.1.1. First-time issuance of stocks to the public to mobilize capital for joint-stock companies (first-time primary offers);
2.1.2. First-time issuance of stocks to the public to change the owner's capital structure (first-time secondary offers).
2.2. Additional issuance of stocks to the public includes:
2.2.1. Additional offers of stocks or share-purchasing rights by organizations which have issued stocks to the public in order to increase their charter capital;
2.2.2. Additional issuance of stocks by organizations which have issued stocks to the public for paying dividends or additional issuance of reward stocks in order to increase their charter capital from the owner's capital source.
3. Stock certificates issued to the public under this Decree must fully contain the contents as prescribed by law. If stocks are issued in the form of book entry, stock purchasers shall be granted ownership certificates.
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